Interview

Bracing for the Next U.S. Recession

David A. Levy sees more trouble looming for the American economy. The bull case for Treasury bonds.

There's a widely held view that the U.S. economy will continue to generate decent growth, even if there's an occasional step backward. David A. Levy, chairman of the Jerome Levy Forecasting Center in Mount Kisco, N.Y., isn't so sure. Skeptical about the underlying strength of the U.S. economy, Levy says investors should brace for a recession in the near term. He worries that shaky profit growth in the U.S., slowing economic growth in China, and weak fundamentals in Europe all could squeeze the U.S. Barron's readers will recognize the Levy name: His late father, Jay Levy, frequently offered us his insights. The...